Transcription
How to Buy Bitcoin
Hey everyone in today's video, I want to show you how to buy Bitcoin and other cryptocurrencies using an app on your phone. This is by far the most popular app when it comes to buying cryptocurrencies. When Bitcoin really took off in 2017, this was really the only way to do it. The only easy way to buy crypto, but now there are other apps available, but this is still the leading app for buying cryptocurrency.
So let me show you exactly how to use it and everything that the app has to offer. If you click the link in the description, I have a referral link, which you could also use a referral link to invite your friends and if you spend a hundred dollars or if you buy or sell a hundred dollars worth of crypto in this app, we both get $10.
So once you do sign up, you get your own referral link, which you could use to invite your friends to and the app is called Coinbase and once you sign in the signup process is pretty straightforward for first name, last name, some information like that and then you could go ahead and go into the app.
And the first thing you want to do is you want to go to the settings which are on the bottom corner here and you want to link accounts because you do have to bring in some money here in order to buy cryptocurrencies. So I went ahead and added a bank account here. That's one of the easiest ways to transfer money for free into the app.
So you can buy crypto here and there is an option here. It says limited features. I'm on level two. If you click it, it's going to tell you some things to do to basically unlock more options, more limits, and things like that. So you could see if you verify your phone number and your personal information and verify your photo ID, you could get all these three levels online.
Which you go on top here. It shows you what those levels get. Basically, you could buy more crypto transfer, more money, and things like that when you're completely on like that. So I recommend you do that. Just go through the signup process from scratch. Now, let me show you the rest of the app and the overview of the app here.
So you have your homepage here, which right on top is going to show you your balance. If you just downloaded the app, it's going to be zero, but that's where your balance is going to show up right on top and if you tap it, you could see a little chart here. That shows you how your crypto is reacting. So let me go to one year, for example, and I could see I went from 2300 and my lowest point to 12,000 just yesterday here, based on one-year performance, but you could get one day, one hour, one week or whatever you want and see how your crypto is doing here.
Under that, it's going to show you some other balances. US dollar is the money I transferred into the app. You don't have to transfer money into the app to buy crypto. You could actually buy crypto just with the link to your bank account directly from your bank. But I have also done that too and transferred money in here both ways and it's going to show you some other holdings that you have. I have Bitcoin XRP and a few other ones here, but it's going to give you a good overview here on your portfolio page. So let me go back to the homepage to show you some more things here. I have a watch list. I'll show you how to add things to the watch list.
When I go to the prices page, then you have something called top mover. So each day is going to show you how the cryptos are doing. This is actually a really bad day. It looks like everything is down significantly, but yesterday was a really good day. So this really fluctuates. So before you do buy crypto, I'm not in any way an expert or making any recommendations on what to buy, but this app is a good way to kind of analyze how things are moving here.
So let me go to the portfolio page, which we briefly looked at, but again, all our holdings and all the other type of cryptos are going to show up over here. There's a whole bunch of them. This app, when I first made this video in 2017, only supported three cryptos, Bitcoin, Ethereum, and light coin. But now there's a whole bunch more that you could buy here than in the middle here, if you press this, this is where pretty much everything happens.
If you want to buy Bitcoin or any crypto. You press buy here, selling, converting, sending, and receiving also takes place here, and let me show you buy, buy is going to let you pick an asset to buy. So if you want to buy Bitcoin, you just select Bitcoin here and then you're going to tell it how much you want to buy.
I only have 80 in the cash balance, but if I press that I could choose one of my bank accounts here, and then I could transfer money from there directly, or add a payment method here. So if I wanted to buy $20 worth of Bitcoin, you don't have to buy a whole Bitcoin. You could buy a fraction of it. You just go preview by and it's going to bring you this page here.
It's going to show you the Bitcoin price at the time that you're about to buy it. It's going to be an instant transfer into Coinbase here and again, this is based on all the verification I've done and the fact that I have money sitting here and you can see there is a little bit of a fee every time you make a transaction.
So it's really if you buy small amounts, the fee is really going to eat into your profits. You could see here, I'm actually only purchasing $18 and 51 cents and I'm paying about a dollar 50 and fees. Same thing back to the assets page. If I wanted to buy a different one, like a light coin, I could select that again, type in how much I want to buy here, and then go to the next page and then decide what I'm using here.
I'm using the cash balance I have that I transferred into here, or I could just select that section and choose a different account or add a different method of payment. Now, let me show you the pricing page because this is a nice page to basically add favorites for yourself on the homepage. If I select Bitcoin here, you see that star right on top.
This is going to let you make things your favorite. So they appear on the first page and from this page, you could also trade. So I could press trade here on their Bitcoin. If I have any, and I could buy, sell, or convert Bitcoin, you could actually convert your Bitcoin to other cryptocurrencies right within the Cumbert option within the app right here too and there's another thing that you could do to analyze the different cryptos, including Bitcoin. On that page. If I scroll all the way down here, it shows you the market cap and he shows you how much supplies left here and it shows you how popular that crypto is on Coinbase. Bitcoin's obviously number one, but with other ones, this does come in handy and it shows you the trading activity right now is 59% by 41% sell shows you the all-time high, really, really useful stuff here and there's some news underneath that that always gets updated. This is just from two days ago, five days ago. So they're going to write more articles here that make it really, really useful, and again, back to the homepage, you could see that these are the watch lists that I have based on pressing that star under the prices page and it's really just as simple to buy Bitcoin or any of these other cryptocurrencies supported by this app. Just using your phone. I hope you found this useful. Please give this video a thumbs up subscribe. If you want to see more, easy-to-follow tech videos and I'll catch you next time.